Editor’s Note: This article has been updated to correct an error. The previous version incorrectly referred to Peter Rawlinson as the CEO of Lucid.
Lucid Group Inc. LCID shares fell 8.68% in pre-market trading on Wednesday after the electric vehicle (EV) maker posted a steeper-than-expected Q2 loss and revealed it's losing over $82,000 on each vehicle sold.
Lucid Misses Q2 Estimates, Trims 2025 Output Forecast
The California-based EV maker reported second-quarter revenue of $259.4 million, missing analyst expectations of $296.24 million. Lucid also reported an adjusted loss of 24 cents per share, exceeding the anticipated loss of 21 cents.
Check out the current price of LCID stock here.
"We had our sixth consecutive quarter of record deliveries in Q2 and expect to continue this trend as we ramp up Lucid Gravity production in the second half of the year," stated Marc Winterhoff, interim CEO of Lucid. Despite an uptick in deliveries, Lucid lowered its full-year production forecast. The quarterly results were mixed, with the company producing 3,863 vehicles and delivering 3,309.
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Production Scale Remains A Key Hurdle
Lucid's losses also highlight the broader challenge for startups trying to reach economies of scale. As of Q2, the company is losing roughly $81,810 per vehicle sold.
During its earnings call, Lucid announced a revision to its 2025 annual production guidance, lowering its target from 20,000 units to a range of 18,000 to 20,000 units.
According to Benzinga Edge Stock Rankings, Lucid has a value score of 56.88% and a momentum rating of 19.70%. Click here to see how it compares to other leading EV companies.
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